(Reuters) -India’s Reliance Industries said on Friday it has bought a 74% stake in Navi Mumbai IIA (NMIIA) for 16.28 billion rupees ($192 million).
NMIIA operates an industrial area located in Mumbai, India’s financial hub and the capital of the western state of Maharashtra.
The remaining 26% stake in NMIIA is held by the City and Industrial Development Corporation of Maharashtra, Reliance said in an exchange filing.
($1 = 84.7900 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Shilpi Majumdar)
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